China hit on dol­lar

Townsville Bulletin - - NEWS -

THE Aus­tralian dol­lar is tak­ing a bat­ter­ing from another day of steep falls on the Chi­nese stock mar­ket. At 5pm yesterday the lo­cal unit was trad­ing at US73.84¢, down from US74.85¢ on Tues­day. Dur­ing the course of the day it fell to a new sixyear low of US73.72¢ and dropped be­low 90 Ja­panese yen for the first time in more than a year. It also fell to a sixyear low against the Bri­tish pound. Thinkforex se­nior mar­ket an­a­lyst Matt Simp­son said the plung­ing Chi­nese mar­ket is a much greater fo­cus for lo­cal in­vestors than a pos­si­ble exit by Greece from the eu­ro­zone.

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